Tom Davenport

Commercial finance brokers see increase in export-led companies seeking finance




Over half of commercial finance brokers (53%) have witnessed an increase in the number of export-led companies seeking finance, according to a recent study.

Business finance company MarketInvoice surveyed 108 commercial finance brokers for their views regarding the current business climate.

Some 60% of such brokers attributed Brexit uncertainty as the main reason for a decline in applications for traditional business loans.

In addition, the MarketInvoice Business Insights report surveyed 1,000 business owners of UK limited companies which employed between one and 246 staff.

More than half of respondents (56%) stated that they aimed to open offices abroad and start exporting, just 10% were turning to a traditional business loan to boost growth, while 26% felt that invoice finance would help with their growth ambitions.

“Trends suggest that brokers could be getting busier with more demand for funding options from export-driven companies,” said Tom Davenport, head of strategic partnerships at MarketInvoice (pictured above).

“These are complex businesses [which] have several demands across their supply chain and will require finance solutions that meet the needs of various moving parts of the business.

“This is as much about helping them find the right cash flow or working capital solution as it is about supporting the long-term growth of the company.”

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